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Viewing 6 posts - 21 through 26 (of 26 total)
  • Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Mgs4 wrote:
    Normally do mortgage brokers  have websites or PDF docs with loan comparisons on key metrics eg interest rates, annual fees, maximum LVR etc. As loans are relatively commoditized products the main variables are total costs (ir, fees etc.) and ease of application (LVR and other relevant constraints). The tricky thing I find is brokers can access different rates to what the average person can, so using online comparison websites often isn't on accurate comparison if your going to go through a broker.

     

    Yep. We use two different software programs – one is via our aggregator and the other (which is subscription based) from a third party provider is for assessing more complicated scenarios. All produce product comparisons, etc. Most brokers offer this as standard.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Colin RiceColin Rice
    Participant
    @fms
    Join Date: 2011
    Post Count: 338

    Care to share the name of the subscription software program Jamie? 

    I would be interested in exploring further. 

    Colin Rice | CDR Finance
    http://cdrfinance.com.au/
    Email Me | Phone Me

    Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    No probs – it's called iLend. It's handy for multiple property/complex deals. Maybe hit them up for a free trial.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Mgs4Mgs4
    Participant
    @mgs4
    Join Date: 2013
    Post Count: 13

    Do a lot of investors look for mortgage brokers that are also sophisticated property investors? I find a lot of mortgage brokers, particularly new entrants to the industry, wouldn't meet this criteria.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Mgs4 wrote:
    Do a lot of investors look for mortgage brokers that are also sophisticated property investors? I find a lot of mortgage brokers, particularly new entrants to the industry, wouldn't meet this criteria.

    Yeah they do. It helps to work with a broker who's an investor themselves. It's a question that new clients ask me quite a lot.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DaOneDaOne
    Participant
    @daone
    Join Date: 2008
    Post Count: 38

    Some lender would give you a little better rate, but when you are investor you don't want all your loans with one lender as this will limited your borrowing capacity. Some of things you should look out for are:

    Should be a Mortgage Specialist

    Should be a Member of the Mortgage and Finance Association of Australia (MFAA)

    Should have links with a reputable company with support and professional training

    Should disclose fees and commissions transparently

    Should be covered by Professional Indemnity Insurance

    Should have access to a broad panel of Financial Institutions

    Should have some specialist software to compare home loan products and calculators

    Should be able to assess and electronically submit loan applications to Lenders

    Should possess a detailed customer charter setting out how they work.

    A good broker will be there to help you along the way. You do not select a broker based on rebate.

    DaOne | Oras Finance - Your Local Mortgage Broker
    http://www.ihomeloans.net.au/
    Email Me

    Help you make your dreams come true: https://www.youtube.com/watch?v=sB3KpKX4UsI

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